USA Gasoline Inventories A Build Of 2.746M Vs A Build Of 0.880M Est.; Draw Of 0.207M Prior
Portfolio Pulse from Happy Mohamed
USA gasoline inventories reported a build of 2.746 million barrels, significantly higher than the estimated build of 0.880 million barrels and the prior draw of 0.207 million barrels.
June 07, 2023 | 2:41 pm
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NEUTRAL IMPACT
The United States Natural Gas Fund (UNG) may be affected by the higher-than-expected build in gasoline inventories.
The higher-than-expected build in gasoline inventories may affect the United States Natural Gas Fund (UNG) as it indicates a potential oversupply in the market. However, the direct impact on UNG may be limited as it primarily tracks natural gas prices, not gasoline.
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RELEVANCE 50